Activist Hedge Funds: Helvetia Acquires Dunedin Independent

New York (HedgeCo.net) – Zurich-based activist hedge fund manager Helvetia Wealth has expanded its influence in Scotland with the acquisition of Dunedin Independent, Scotland’s largest independently-owned financial advisor (IFA). With GBP350 million ($539 million) in AUM, Dundein is ranked in the top 100 wealth management companies in the UK.

“With offices also in Liechtenstein, Geneva, London, Hamburg, Mauritius, Dublin and Glasgow, Helvetia Wealth AG now has an increased asset base of CHF 1.5-billion ($1.47 billion), with the UK earmarked as one of the group’s key markets,” Helvetia CEO Kamil Stender, said. “Employing the latest methodologies in wealth management, we are well positioned to service the rapidly growing demand for wealth management services. This demand is the result of globalisation and the increased prosperity it engenders.”

“There are now in excess of 7.6 million high net worth individuals worldwide. Since 2002, this market has grown at a rate of 7.5% p.a. And total assets under management now exceed CHF 36Trillion ($35.5 trillion).” Stender said.

“The enlarged group features two prominent IFA firms in Scotland, Dunedin Independent plc and City Gate Money Managers. In addition, Helvetia owns a controlling stake in London-based TAM Asset Management with a London Stock Exchange brokerage licence allowing us to execute our own trades faster at better margins.” Yuill Irvine, MD at Dunedin Independent said, “The amalgamation will introduce a range of cost attractive synergies for Helvetia and attractive efficiencies for all three firm’s clients as well as offering our clients access to Swiss banking facilities.”

A team from law firm HBJ Gateley Wareing acted on behalf of the shareholders of Dunedin Independent.